FASTag Collection Hits A Record Rs 122 Crore In A Day

[Andhadhun]

FASTag Collection Hits A Record Rs 122 Crore In A Day

The NHAI said the huge toll collection shows increased transport related activities particularly during the festive season.

In an indication of increased economic activities, the toll collection through FASTags touched an all-time high in a day of Rs 122.36 crore on Saturday (30 October).
According to the National Highways Authority of India (NHAI), the huge collection shows more transport related activities particularly during the festive season. An overall trend also shows that the total revenue increased on all days during last week compared to the previous one.
According to NHAI data, the earlier maximum collection was Rs 106.3 crore on 27 March before the second wave of Covid-19 hit the country. The data also shows that the daily toll collection increased by 5 to 8 per cent during the last week compared to the user charges collected by the toll operators exactly a week back.
All 722 toll plazas on national highways and another 196 toll plazas on state highways or roads collect user fees only through FASTags. Nearly 82 per cent of the total toll charge comes from commercial and heavy vehicles, while cars contribute to barely 18 per cent of the cumulative toll.
Besides higher traffic on highways, the other two factors that have contributed to the increase in toll collection are annual hike in toll charges and bringing more completed stretches under the tolling system.

 

[Andhadhun]

NHAI sold its 1.2 Billion $ Debt to Canadian Pension Fund


Canada funds to pick up 50% in NHAI InvIT

NHAI would retain a minimum of 15% equity and the rest would be offered to domestic institutional investors

Canadian Pension Plan Investment Board and Ontario Teachers’ Pension Plan will be the anchor investors for the Infrastructure Investment Trust (InvIT) of the National Highways Authority of India (NHAI) with each picking up 25% stake.

Besides, NHAI would retain a minimum of 15% equity and the rest would be offered to domestic institutional investors.
The InvIT will initially have a portfolio of five operating toll roads with an aggregate length of 390 kilometers, with more roads planned to be added later. These roads are located across the states of Gujarat, Karnataka, Rajasthan and Telangana. NHAI has granted new concessions of 30-years for these roads.

The total enterprise value of the portfolio of five roads was pegged at ₹8,011.52 crore. NHAI InvIT is being funded through debt of Rs. 2,000 crore from State Bank of India, Axis Bank and Bank of Maharashtra. The balance is being funded by issuing units of Rs. 6,011.52 crore to international and domestic institutional investors, and NHAI as sponsor.

“We are pleased that NHAI InvIT has been able to garner funds from marquee international and domestic institutional investors to support the Government of India’s National Monetisation Pipeline. We welcome the two anchor investors - Canadian Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board, and other reputed domestic investors, into NHAI InvIT. The success of this InvIT shall go a long way in achieving Hon’ble Prime Minister’s vision of developing world class infrastructure in the country," said GiridharArmane, Secretary Ministry of Road Transport and Highways and NHAI Chairman.